The repayment of crop loans extended to farmers up to 60 days

To provide relief to the farmers hit by cash crunch, the Indian Government today announced that the farmers were given them an additional two months to repay their crop loans due in November – December period and said that the prompt repayment would be eligible for the 3 per cent interest subsidy. Under the interest subvention scheme, farmers get the short term crop loans upto Rs 3 lakhs for one year at an interest rate of 7 per cent.